SME loan protection in case of death (suicide in the 1st policy year is excluded).
Reduce business risk and obligation to pay loan as a result of unexpected events.
Sum Assured decreases in accordance with outstanding loan.
Premiums for life insurance with 10 years of coverage are eligible for personal income tax deduction up to 100,000 Baht per year*
Life insurance product is made available from ING Life Limited.
For more information, please contact TMB branches nationwide, TMB Phone Banking 1558 or ING call center 0-2632-6000.
The information contained herein is provided as preliminary information only and does not form any part of the insurance contract. The coverage purchased, terms and conditions as well as benefits thereof shall be as stipulated in the policy contract.
* Refer to Notification of the Director-General of the Revenue Department No.172
Case 1 - Sum Assured exceeds the outstanding loan:
ING will pay the amount of outstanding loan to TMB and the rest of the sum Assured will be paid to the secondary beneficiary whose name is stated in the application form.
Case 2 - Sum Assured is less than the outstanding loan:
ING will pay an amount equal to sum insured to TMB.
Applicant : SME loan client. In case of juristic person(s), the applicant must to be the chairperson or a shareholder who has authority to bind that juristic person(s)or sign a loan contract on behalf of such juristic person(s)
Insured Age : 20 - 64 years (age not over 65 years at maturity date)
Coverage Period : 1 - 10 year (inconsistent with the loan duration; maximum age of coverage is 65)
Maximum SA :Sum Assured must not exceed outstanding loan. In case there are more than one applicants, the total sum insured of all applicants must not exceed the outstanding loan
Minimum SA : 300,000 Baht
Premium Payment : Minimum Baht 3,000. Single premium shall be paid by cash or cheque
